Share Name Share Symbol Market Type Share ISIN Share Description
Silverjet Plc LSE:SIL London Ordinary Share GB00B1443S31 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 13.50p 0.00p 0.00p - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 0.00

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Date Time Title Posts
28/9/201618:59Silvercrest metals1
06/7/200823:45Is George Soros About to Close His Derivative Short Positions on SIL?2
14/6/200817:51Silverjet - Business Class Travel734
01/6/200800:48Silverjet with Charts & News8
25/4/200223:46SILLY BOYS THREAD5

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29/9/2016
09:20
Silverjet Daily Update: Silverjet Plc is listed in the sector of the London Stock Exchange with ticker SIL. The last closing price for Silverjet was 13.50p.
Silverjet Plc has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 0 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Silverjet Plc is £0.
30/5/2008
10:04
drewz: JC, not very amusing at all for the 300+ staff who will lose their jobs, or the ticket-holders and shareholders who will lose money. From Times Online May 30, 2008 Silverjet ceases flying as cash runs out Company failed to raise cash in time from unnamed investor Robert Lindsay Silverjet, the business class-only airline, this morning admitted it no longer had the cash to continue flying and suspended operations. "It is with deep regret that the board of Silverjet has therefore decided that it must suspend operations with immediate effect," it said. The last flight took off at 7.30 this morning from Luton on its way to Dubai. Last night Silverjet said that its would-be Abu Dhabi investor Viceroy had still failed to provide it with the $5 million cash loan it had promised under a rescue deal and that it was left talking to just one potential rescue investor. Related Links Silverjet flying on empty as finances hit red Silverjet airline fights to stay in the air This morning it added: "Silverjet continues to be in discussions with investors interested in supporting the business, however, it has yet to conclude such discussions to its satisfaction." The advance was required as a matter of urgency since its working capital reserves were limited. It is understood it did not have enough cash to pay for the fuel for any more flights. A spokeswoman said she believed founding chief executive Lawrence Hunt was still talking to the investor, but agreed that the future looked bleak now the airline has no income coming in. It employs some 330 people in Luton. Silverjet said customers who have booked flights via credit card should be able to receive money back from their credit card company or from their travel agent. But others are unlikely to get their money back. A week ago Silverjet's shares were suspended when the airline revealed that Viceroy was not handing over the cash which it needed urgently to keep flying. At the time the airline confirmed that it remained in talks with one party which was interested in investing in the company. The Luton-based carrier, which offers business-class flights to New York and Dubai for about one third of the price of a British Airways ticket, said last year that it was losing about £1 million a month. This figure is rumoured to have doubled in recent months. Silverjet's share price has fallen from 120p at flotation to 13½p before its stock was suspended. http://business.timesonline.co.uk/tol/business/industry_sectors/transport/article4031323.ece
23/5/2008
20:33
cyberpost: http://blogs.guardian.co.uk/markets/2008/01/silverjet_the_business_class_a.html Analyst brings Silverjet down to earth January 14, 2008 3:40 PM Silverjet, the business class airline that flys from Luton, has come down to earth with a bump. Its shares have slumped 28% to 35.5p after a savage sell note from broker Daniel Stewart. Analyst Mike Stoddart began coverage of the company today - the directors may wish he hadn't bothered - by saying: "Our target price is nil. We would sell at any price." There's more - 32 pages in all. Stoddart goes on: "Its low fares have failed to generate the load factors needed to make any money. While it posted an 80% load factor for August 2007, this was achieved, at least partly, by taking bookings for two flights per day and, as a consequence of unforeseen maintenance work, operating only one. "Now that frequency has been doubled on the Newark route and the Dubai route has been launched, load factors have collapsed to just over 50% and we have yet to see how things will look for the seasonally quiet months of January and February. As with other UK airlines, it recently launched a January sale in order to boost demand. "At the current blend of oil price and exchange rate, we estimate that jet fuel will be costing Silverjet about 23% more per rotation (or round trip) than the average it experienced in half year to September 2007. "Overall, Silverjet's current performance - average return fares of about £1,180 and load factors of 52.8% - is so far adrift of what is required that, in our view, the business is doomed to fail unless something changes - significantly and rapidly. With these figures, each return flight will be earning revenue of about £62,300 and, with all-in costs of perhaps twice that amount, generating sizeable losses. "As a consequence of all this, we expect Silverjet to produce a bigger loss in the second half than the first and more, substantial losses next year. It is difficult to be precise about the effect on cashflow because of the potential size of some of the working capital swings. "The next test for Silverjet is whether, having done their due diligence, the Reuben brothers decide to convert their £10m loan to equity at 60p per share. Their last conversion date is 11th February 2008. Whether they do or don't, we consider that the company will need another equity issue in the next year or so simply to offset its losses and stay in business." A buy note from Silverjet's broker Arden has done little to limit the damage. But for the sake of balance, Arden reckons: "[The seat sale] is helping boost passenger numbers in the seasonally quiet month of January but also providing a good base level of bookings for future months - around 70% of bookings last week were for February onwards. Whilst yields under the sale are below our forecasts for Silverjet, yields will be managed upwards as the planes fill following the typical low-cost model. "The recent investment by the Reuben brothers is a significant and positive development which has yet to be reflected in the share price."
04/5/2008
17:39
bammbamm: From ft.com www.ft.com/cms/s/0/e189ff3e-18aa-11dd-8c92-0000779fd2ac.html I believe April stats due out on Tuesday as well. Could be a good rise in load factor? Silverjet secures Mideast rescue By Kevin Done, Aerospace Correspondent Published: May 3 2008 03:00 | Last updated: May 3 2008 03:00 Silverjet, the UK all-business class airline, said last night it had reached a binding agreement with a Middle East investor for an emergency injection of about $25m in debt and equity. The airline has been battling for survival, as two of its closest rivals Maxjet Airways and Eos Airlines of the US have collapsed into bankruptcy. Silverjet has agreed a rescue deal with Viceroy Holdings, which the airline said was registered in the island of Nevis and was affiliated with Viceroy Fund, an international luxury brand development fund based in the US and in the United Arab Emirates. Lawrence Hunt, Silverjet founder and chief executive, said Viceroy was a long-term strategic investor, which was committed to the development and expansion of Silverjet and had proposed to inject further capital into the group. As part of a loan agreement, Silverjet Aviation, a wholly owned subsidiary of Silverjet, can borrow up to £8.4m for three years at an interest rate of Libor - the interbank lending rate - plus 2 per cent. In addition Silverjet will issue 25m new shares to Viceroy at 17p a share to raise gross proceeds of £4.3m. Viceroy will become the biggest single investor in Silverjet with a stake of 28 per cent and will have two seats on the board. The share issue must be approved by shareholders, the UK Civil Aviation Authority and TFB, a company owned by the Reuben brothers, UK property developers, which provided a £10m loan to Silverjet late last year. Silverjet revealed earlier this week how precarious its financial position had become and said following "recent material increases" in fuel prices and tightening of credit conditions in the airline industry, its working capital had "deteriorated" and its residual reserves were "limited." Without the Viceroy deal it would have had to "source alternative means of funding as a matter of urgency." Silverjet said that under a memorandum of understanding agreed with Viceroy earlier this week, the fund had agreed to invest up to a further $75m (£38m) in the development of the airline. The Silverjet brand and concept would be launched into new markets in the Middle East, the Far East and Africa, using the Middle East as a regional hub. Silverjet shares have plunged in recent months amid the group's continuing losses and the sharp deterioration in the fortunes of the airline sector. The airline was floated on London's alternative investment market in May 2006 at 112p. Its share price climbed to a peak of 209p in March last year six weeks after flying operations began, but it has since collapsed and has traded as low as 12½p in recent weeks. The airline said it had achieved an average fare in April of £550 per flight on both its routes from London Luton to New York Newark and Dubai.
10/4/2008
08:16
papalpower: Update from Daniel Stewart this morning : Silverjet plc - SELL Price: 15.25p Target price: 0p Code: SIL.L Analyst: Mike Stoddart | 0161 830 1892 Last chance to get out? We have had an announcement this morning ..."Silverjet notes the recent increase in its share price. The Company is currently in discussions which may or may not lead to an offer for the issued share capital of the Company. A further announcement will be made when appropriate". We would use this as an opportunity to sell. The high degree of interest in the company from private investors may lead to a big spike in the price today - some are already trying to talk it up to 50-75p. If any prospective bidder does proper due diligence on Silverjet we see a strong probability that they will decide not to bid. We cannot see Silverjet making profits at the current fares and if fares go up, load factors will go down.Shareholders will then be back where they started - wondering how long it will be before the company fails. Value? - Our model shows Silverjet with a net asset value of £9.8m as of 31st march 2008 - equivalent to 15.2p per share. This figure is continually shrinking, though, as the losses mount and we would not use it as a guide to value. We see the losses eventually extinguishing the equity - the rate will depend on the rate of expansion. Which leads us to.. Where are the 4th and 5th aircraft? Despite raising £11.2m in new equity and £10m in new debt in December in order to fund the deposits on theses aircraft (codes G-BYAA and G-BYAB) there is still no word from the company as to when or whether they will take delivery of them. Rumours on websites such as www.pprune.co.uk suggest that the 4th aircraft is parked at Dublin and that the 5th is going to stay with Thomson.
02/3/2008
17:24
mister md: good find Granville2 News - 29/02/2008 - Silverjet shares soar on deal rumours Shares in all business airline Silverjet, which flies from Luton to New York Newark and Dubai, have risen by 40% in recent days on rumours that the carrier is on the verge of being taken over. The airline's share price had fallen dramatically since Christmas, when rival Maxjet went out of business. An analyst report suggesting that the Silverjet business model was broken saw the price tumble further. News on load factors and a decision by the billionaire Reuben brothers not to convert a £10m loan given to the airline into equity has also caused a drag on the stock. With the price down to a shade over 15p last week – down from 112p at its 2006 IPO – the airline presented a ripe target. On 22 February, the airline revealed that fund manager GAM International had taken a 4.3% stake in the airline and since then, trading volumes have been high. The price has now risen to 21p. Silverjet would not comment on the takeover speculation but a person with knowledge of the situation said that a deal was on the table.
15/2/2008
17:29
stluke: Another article today from the times trying to view Silverjet with a little more optimism. Give Silverjet a break "The share price of the all-business airline which operates from Luton to New York and Dubai has plummeted this week but I think the market has it all wrongMark Frary It has been a testing few days for all-business class airline Silverjet, which flies from Luton airport to both New York Newark and Dubai. First news emerged that the billionaire Reuben Brothers had decided not to convert a £10 million loan they had given the airline in November into shares. If that were not enough, one of its keenest rivals - premium carrier Eos – then announced it was planning to launch services to Dubai too. Silverjet's shares – which are listed on the secondary AIM exchange – plunged as a result and now stand at just 15.5p, far below the 112p at which it listed back in May 2006. Since then, the media has been full of doom and gloom about Silverjet's future. But hold on a minute, let's get some perspective here. First, let's take a look at the Reuben Brothers' decision not to take shares in the airline. The two options open to them on 11 February were exchanging their £10m for 18.3 million shares, then priced at 24p, or carrying on with the loan until December 2009, when it is repayable at an attractive rate of LIBOR plus 2%. Converting to shares would have instantly valued their investment at £4.4m. Yes, there's the potential future upside but it's not something most share dealers would agree to do easily. I think the most significant thing to come out of it is that the brothers have not asked for repayment of their loan. If they were truly worried about its future, they would have foreclosed. Indeed, at the time of the decision, the brothers said: "We continue to believe the company has a sound business model and excellent prospects for the future to become a major player in the global aviation business." Secondly, let's take a look at the competition from Eos. I personally think that the passengers that the two airlines attract are very different. Eos is essentially a traditional first class product which is called business class only to make companies feel comfortable about sending their business travellers on it. Silverjet, on the other hand, is a business class product through and through but at far lower fares than the traditional carriers. Most business travellers I have spoken to about Silverjet cannot rate it highly enough. There's the odd grumble about having to go to Luton but the service, both on the ground and on the plane, are impeccable. Some people may be concerned about the airline's viability. Despite the share price, the airline must have plenty of cash, amassed from the loan, a £12m share issue and a successful January sale. I suspect a certain amount of mischief-making in the current wave of rumours about the airline but I personally think there's little to worry about at the moment. I could be proven wrong – and I hope I am not because Silverjet brings much needed choice to the business travel sector – but I believe that the airline has a rosy future." I have had a few of these today as i feel it is now at a price where failure is pretty much priced in, ok it could all go belly up and i may lose the lot but if they manage to get through the next few months and out the other side this could be a massive multi bagger at these prices when you consider the current market cap of under £7m. As the article says they should have a fairly large cash pot as they could not have burnt that much cash over the last few months, and they look like they will be receving a further £3m approx from ATOL refund.
13/2/2008
08:47
stluke: Well a slightly calmer start to the day for a change and perhaps some more thought about commentary from the papers like the piece below from the independent. "Investors who chose to sink their money into Silverjet – the all-business class airline based at Luton Airport – were no doubt reassured about the high-risk project by the track record of its chief executive, Lawrence Hunt. Before his latest venture, Mr Hunt had run and successfully exited four companies in the rough-and-tumble technology industry – where the ups and downs are more extreme than almost any other sector except, perhaps, the aviation industry. It is a business that requires nerves of steel. Indeed, while the AIM-listed company's shares plumbed new lows yesterday – dropping 22 per cent to 17p to value the group at just £11m – Mr Hunt was on holiday. Whether shareholders will interpret his break, at a time when the outlook for the carrier has ostensibly never been worse, as a sign of cool-headed confidence is unclear. By any measure, it has been a brutal few months for Silverjet. The fall in its share price reflects a growing sense of foreboding about the viability of the all-business class airline model. Silverjet's descent was accelerated this week by two pieces of bad news. Firstly, the billionaire Reuben brothers, David and Simon, declined on Monday to convert a £10m loan they had given the company into a 22 per cent stake. Despite claiming that they "continue to believe the company has a sound business model and excellent prospects to become a major player in the global aviation business", their decision – fewer than three months after their initial loan – sent a worrying signal about their confidence in the business. Secondly, Silverjet's more expensive, higher-end rival Eos announced plans to launch a London to Dubai service that will compete directly with Silverjet's recently-launched flights to the emirate, as well as an additional route to New York via Newark Airport. The companies already go head-to-head on the London to New York route – the only other service that is operated by Silverjet, which targets luxury holiday and business travellers. Analysts are worried that an economic slowdown on either side of the Atlantic will kill the "urge to splurge" that is crucial to Silverjet. At about £1,000 for a business-class return to New York, the company's fares are a fraction of BA's, which can charge up to five times as much. Throughout Silverjet's downward share spiral – it has lost more than 85 per cent of its value since it was floated in May 2006 – Mr Hunt has stuck to his pledge that it will reach operational profitability by next month. Yesterday, he dismissed the shares sell-off as an over-reaction. "It's ridiculous. We have built a business that is a month or two from profitability, which is three months ahead of the original plan at the IPO," he said. "When you are developing a challenger business and it is listed on the market, it attracts a lot of attention, not all of it good." He said he expected Silverjet's load factor – the number of seats filled – to be "above 60 per cent" this month and that they should reach 70 per cent in March. The airline needs an average of 65 per cent of seats filled to break even. Even so, analysts remain sceptical about the prospects of the business-class only model. "As consumer propositions go, they are superb value for money," said Andrew Lobbenberg, an aviation analyst at ABN Amro. "But whether they can establish the yields and load factors they need in an increasingly challenging airline market is unclear. I don't think they are hopeless cases." Start-up carriers had the advantage of much lower overheads but were hindered by the lower frequency of flights and the lack of large corporate contracts that larger airlines counted on, Mr Lobbenberg added. With MAXjet having gone out of business on 26 December, Silverjet's only rival is Eos, which targets business travellers who can afford £3,500 for a round-trip fare. Eos's challenge is to wrest large corporate accounts from the legacy carriers, a task arguably more daunting than that which lies ahead for Silverjet. Eos, which began flying more two years ago and remains far from profitability, has not been subjected to such negative publicity as Silverjet, mainly because it is not listed and thus does not have to provide regular updates to the City. However, it has burned through much of the $260m it raised from its backers – a group of private equity investors led by Golden Gate Capital. Both airlines could face stiff competition from BA, which this month unveiled plans to launch a business-only service next year, but Mr Hunt claimed it would not be able to match Silverjet's prices because it would cannabilise its Heathrow premium passengers."
15/1/2008
09:24
maxk: Analyst advises sell at any price over 'likely to fail' Silverjet By Danny Fortson Published: 15 January 2008 http://news.independent.co.uk/business/news/article3339087.ece Silverjet, the start-up business-class only airline, was the worst performing small cap stock yesterday after an analyst set a share price target of nil for the company and branded it "likely to fail". In an unusually brutal note, Mike Stoddart, an analyst at Daniel Stewart & Co, initiated coverage on the company by advising investors to "sell at any price". The note comes just three weeks after MAXjet, a rival business-class only carrier, filed for administration under a mountain of losses and debt. Silverjet fell 28 per cent to 35.5p. It issued a Stock Exchange announcement pointing out "numerous material mistakes and inaccuracies" in the note, including an assumption that return flights cost nearly twice as much to operate than they do in reality. The company said it remained confident that it would hit its target of reaching pre-tax profitability by March. Silverjet, which began service a year ago this Friday, flies its fleet of three 767's – refitted to fit 100, lie-flat beds – from London to New York and Dubai. Mr Stoddart argued that its declining load factors – 52.8 per cent of seats filled in December – is far too low to keep it airborne. Silverjet's largest investors are the Reuben Brothers, who have given loans to the company convertible next month to a 22 per cent stake. Asked why he would publish a 32-note page note on a firm he thought was worthless, Mr Stoddart said: "I'd done a lot of work on it, so I thought it would be better to make some use out of it." Arden Partners, the company's broker, put out a note with an opposed view yesterday, urging investors on with a "Buy" rating and forecasting a more than quintupling of its 2007 revenue.
14/1/2008
23:43
m.t.glass: Analyst brings Silverjet down to earth January 14, 2008 3:40 PM Silverjet, the business class airline that flys from Luton, has come down to earth with a bump. Its shares have slumped 28% to 35.5p after a savage sell note from broker Daniel Stewart. Analyst Mike Stoddart began coverage of the company today - the directors may wish he hadn't bothered - by saying: "Our target price is nil. We would sell at any price." There's more - 32 pages in all. Stoddart goes on: "Its low fares have failed to generate the load factors needed to make any money. While it posted an 80% load factor for August 2007, this was achieved, at least partly, by taking bookings for two flights per day and, as a consequence of unforeseen maintenance work, operating only one. "Now that frequency has been doubled on the Newark route and the Dubai route has been launched, load factors have collapsed to just over 50% and we have yet to see how things will look for the seasonally quiet months of January and February. As with other UK airlines, it recently launched a January sale in order to boost demand. "At the current blend of oil price and exchange rate, we estimate that jet fuel will be costing Silverjet about 23% more per rotation (or round trip) than the average it experienced in half year to September 2007. "Overall, Silverjet's current performance - average return fares of about £1,180 and load factors of 52.8% - is so far adrift of what is required that, in our view, the business is doomed to fail unless something changes - significantly and rapidly. With these figures, each return flight will be earning revenue of about £62,300 and, with all-in costs of perhaps twice that amount, generating sizeable losses. "As a consequence of all this, we expect Silverjet to produce a bigger loss in the second half than the first and more, substantial losses next year. It is difficult to be precise about the effect on cashflow because of the potential size of some of the working capital swings. "The next test for Silverjet is whether, having done their due diligence, the Reuben brothers decide to convert their £10m loan to equity at 60p per share. Their last conversion date is 11th February 2008. Whether they do or don't, we consider that the company will need another equity issue in the next year or so simply to offset its losses and stay in business." A buy note from Silverjet's broker Arden has done little to limit the damage. But for the sake of balance, Arden reckons: "[The seat sale] is helping boost passenger numbers in the seasonally quiet month of January but also providing a good base level of bookings for future months - around 70% of bookings last week were for February onwards. Whilst yields under the sale are below our forecasts for Silverjet, yields will be managed upwards as the planes fill following the typical low-cost model. "The recent investment by the Reuben brothers is a significant and positive development which has yet to be reflected in the share price." (Nick Fletcher, The Guardian)
09/8/2007
09:21
lbo: http://business.timesonline.co.uk/tol/business/markets/article2225279.ece?openComment=true Silverjet Shares in Silverjet, the all business-class airline, plunged 25 per cent on the Alternative Investment Market yesterday as investors were spooked by the company's decision to shut its charter aircraft business. On the surface this appears a gross overreaction. The charter business, Flyjet, was bought last year to give Silverjet the aircraft it needed to start flights from Luton to New York. Silverjet also inherited two other aircraft which it leases to package tour operators. The airline has now decided to quit the charter market and will return the unwanted aircraft to their leasing company. This news does not warrant the dramatic share price reaction itself, but investors are right to be wary of this airline. It could also be time to consider positions in rivals MaxJet and Eos. Both Eos and MaxJet, which operate out of Stansted, are understood to have approached rivals seeking cash injections or partnerships and analysts are sceptical that all three providers will survive. Competition on the transatlantic route is brutal and neither Virgin Atlantic nor British Airways will give any ground to these newcomers. Silverjet's only aircraft has had maintenance problems and is being serviced this month. Silverjet insists there have been only a handful of problems since its launch last year but its share price has slumped from a high of 204p this year to just 83p. It is wrong to assume that there is no market for the proposition these airlines are offering. BA and Virgin are talking of setting up this type of service and Sir Richard Branson has proved it is possible to launch an airline with only one aircraft. The uncertainty is over which of the start-ups will survive. Until the winners become apparent, new investors should stay clear
Silverjet share price data is direct from the London Stock Exchange
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